.................... moves to amend the delete everything amendment (A13-0365) to
H.F. No. 1682, as follows:
Page 7, after line 4, insert:
"Sec. 2. [61A.75] LIFE INSURANCE; WAIVER OF RIGHT TO CONTEST
1.5EXISTENCE OF POLICY.
1.6(a) A life insurer is deemed to have waived its right to contest the validity of the
1.7policy and upon the death of the insured must pay the full benefits due under the policy
1.8if the life insurer: (1) refuses to confirm the existence of a valid policy within 120 days
1.9of receipt of a verification of coverage request from the policyholder or its designated
1.10representative that was submitted to the insurer more than four years from the date of
1.11issuance of the policy; and (2) continues to collect premiums on the policy.
1.12(b) This section does not apply to the owner of a life insurance policy who engaged
1.13in fraud in connection with the issuance of the policy.
1.14EFFECTIVE DATE.This section is effective the day following final enactment
1.15and applies to life insurance policies in effect on or issued on or after that date.
Renumber the sections in sequence and correct the internal references
Amend the title accordingly